Today is a day to honor dads. The National Retail Federation says that spending for Father’s Day this year could hit an all-time record $17 billion (up from last year’s $16 billion). Spending is expected to average $148.58, with about 75% of people planning to celebrate dads today. Most popular purchases include greeting cards, sporting goods, tools or appliances, clothing, and electronics. And 22% of respondents in the survey said they were planning to give a gift of experience. Happy Father’s Day to all the fathers out there!
Alert: Follow coronavirus-related federal tax changes for your business through the IRS.
